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    Poland Asserts Control Over Russian Oligarch’s Stake in Fertilizer Producer

    In a strategic move aimed at reducing Russian influence in the Polish economy, Poland has appointed a temporary administrator to oversee the 20-percent stake held by Russian oligarch Vyacheslav Kantor in the Azoty Group fertilizer producer. Waldemar Buda, the Minister of Development and Technology, emphasized that this action is part of a larger effort to gradually eliminate Russian presence in Poland’s economic landscape. The government has been actively working to decrease the share of Russian fuels in the economy and limit Russian capital and influence.

    Vyacheslav Kantor, operating through three companies—Norica Holding S.a.r.l.z. (based in Luxembourg), Opansa Enterprises Limited, and Rainbee Holdings Limited (both based in Cyprus)—currently controls a 19.82-percent stake in Azoty. However, these entities, along with Kantor himself, have been placed on a sanctions list by the Polish Interior Ministry. Consequently, Minister Buda has decided to appoint a temporary administrator to take control of their shares in Grupa Azoty.

    State Assets Minister Jacek Sasin hailed the appointment of the temporary administrator as further evidence of Poland’s consistent efforts to sever Russian influence. He noted that this decision marks the third instance in which a company with Russian capital has faced such measures following Russia’s invasion of Ukraine. Previous actions had been taken against Novatek and EuRoPol Gaz. Minister Sasin further explained that this decision effectively strips Kantor of any decision-making power regarding Azoty.

    With his 19.82-percent stake, Vyacheslav Kantor is currently the second largest shareholder in Azoty, trailing behind the Polish state, which holds a 33-percent stake.

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